The health insurance industry started in India in 1986 and has experienced tremendous growth in the country. To date, there are 30 insurance companies in the country that offer health insurance products.
Of these, there are 25 general insurance companies in India offering health insurance plans and 5 independent health insurance companies. In addition to life insurance, a general insurance company deals in many insurance products such as travel insurance, auto insurance, health insurance, rural insurance, etc.
Top 10 Health Insurance Companies in India 2022
1. IFFCO Tokio General Insurance Established in 2000, IFFCO Tokio General Insurance is a joint venture between Indian Farmers Fertilizer Cooperative Limited (IFFCO) and Tokio Marine Group. The former is the world’s largest fertilizer manufacturer and the second is the largest insurance group in Japan. IFFCO owns 51% of the company, while the Tokio Marine Group owns the remaining 49%.
It is a general insurance company that sells health insurance plans, car insurance plans, bicycle insurance plans, travel insurance plans, home insurance plans, and corporate policies such as property insurance and liability insurance. The insurance company offers a wide range of health insurance plans, including individual health insurance plans, family health insurance plans, and health insurance plans for seniors.
2. Care Health Insurance: Care Health Insurance, formerly known as Religare Health Insurance, is a joint venture between Reliance Enterprises Limited, Union Bank of India, and Corporation Bank. The company is a health insurance company that offers a wide range of health insurance plans to meet the diverse needs of insurance policy buyers.
These include individual health insurance plans, maternity health insurance plans, family health insurance plans, seniors health insurance plans, and critical illness health insurance plans. Some common health insurance plans offered by the insurance company include Care Freedom, Care, and Care Senior Policy. These plans come with different features and coverage benefits that suit different needs of individuals at reasonable premiums.
3. Magma HDI Insurance: Magma HDI General Insurance Company Limited This is a joint venture between Magma Funcorp Limited and HDI Global SE, a reputed insurance company in India. It has an impressive proportion of claims settlement and offers a wide range of health insurance plans to meet the different needs of the people.
In addition to health insurance plans, it also offers other insurance products such as fire insurance plans, marine insurance, auto insurance, and more. The insurance company has a presence across India with more than 135 offices in different states. Under its health insurance plans, the insurance company offers extensive coverage against various major health expenses such as hospitalization costs, pre-hospital and post-hospital expenses, daycare expenses, etc.
4. The Oriental Insurance Company: Founded in 1947, Oriental Insurance Company offers its clients a wide range of health insurance products. The insurance company is headquartered in New Delhi and has more than 29 regional offices and about 1,1800 offices in different cities of the country. The insurance company also operates offshore operations in Nepal, Dubai, and Kuwait.
The health insurance plans offered by the insurance company are suitable for people who live in rural as well as urban areas. The insurance company has an extensive network of hospitals where you can avail yourself of cashless treatment without paying anything for the treatment covered under the policy. Insurance companies offer affordable health insurance plans and thus many people prefer them.
5. New India General Insurance: New India General Insurance is a multinational general insurance company headquartered in Mumbai, India, and operating in 28 countries. The insurance company has more than 250 products, including a variety of health insurance plans for different segments of society.
Plans are affordable and cover many health care costs such as pre-hospital costs, post-hospital and post-hospital costs, daycare costs, organ transplants Donor expenses, road ambulance expenses, etc. The policies are available in cheaper installments and you can avail cashless treatment under them in-network hospitals.
6. Bajaj Allianz General Insurance: Bajaj Allianz General Insurance is another well-known insurance company with a large settlement of claims. This is a joint venture between Alliance SE and Bajaj Finser Limited. Bajaj Allianz is one of the largest private insurance companies in the industry, with offices in more than 11 cities and towns. Insurance companies offer a wide range of insurance products, including health insurance.
With more than 6,500 network hospitals, the insurance company provides insured cashless treatment under its health insurance plans. One can benefit from individual health insurance plans, family health insurance plans, seniors’ health insurance plans, maternity health insurance plans, etc. Clients
7. Max Bupa Health Insurance: Max Bupa Health Insurance is one of the most popular independent health insurance companies in India. People choose this insurance company to buy a health insurance plan that covers them as well as their families at an affordable premium.
The insurance company has a number of health insurance plans that cater to the different needs of individuals and families with reasonable premiums. Plans come with various coverage benefits and advantages that you can choose according to your budget and other needs. Some of the popular health insurance plans offered by the insurer are Health Premium, Health Companion, Reinsurance, and Money Saver Policy. They come with various insurance options, you can choose according to your needs.
8. Navi Health Insurance: Navi Health Insurance is a young online insurance company that offers a variety of health insurance plans to meet the different health insurance needs of individuals. The insurance company started operations in 2017 and is a wholly-owned subsidiary of New Technologies. It aims to make health insurance easy, affordable, and accessible to Indians. It is a general insurance company that offers health insurance as well as auto insurance plans, cycle insurance plans, property insurance plans, appliance insurance plans, and business insurance plans.
It has more than 10,000 network hospitals where you can avail of cashless treatment without any hassle. The insurance company has a non-performing claims settlement process and that is why many people are looking to this insurance company for their insurance needs.
9. HDFC Ergo General Insurance: HDFC Argo General Insurance is a reputable insurance company offering a wide range of health insurance plans. These include individual health insurance plans, family health insurance plans, health insurance plans for seniors, maternity insurance plans, and children’s health insurance.
The insurance company has an extensive network of hospitals where the insured can avail of cashless treatment without any hassle. The insurance company has a supportive customer support team that resolves customer complaints.
10.ManipalCigna Health Insurance: The only health insurance company, Manipal Sagna Health Insurance was established in 2014. The insurance company offers a wide range of health insurance plans that provide comprehensive coverage to insurers and meet the different needs of individuals.
It is a reputable insurance company that offers various insurance solutions such as personal accident insurance plans, supplemental health insurance plans, individual health insurance plans, daily cash plans,s, etc.
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